The committee of creditors (CoC) for Essar Steel will meet on Tuesday to take a call on the bids after Thursday’s order by the Ahmedabad bench of the National Company Law Tribunal (NCLT). Sources close to the development said, ahead of the CoC meeting, major lenders of Essar Steel met on Monday to thrash out a strategy for the meeting.

As India’s largest software company Tata Consultancy Services (TCS)’s market cap surpassed the $100 billion mark, the Street is seeing value in the company’s organic growth plans. TCS saw its stock price soaring to a record high of Rs 3,557 on Monday on the BSE following better than expected Q4 results posted last week.

Although TCS’ market value on a closing basis slipped to $98.1 billion, it is still more valuable than its US-listed rival Accenture, which, according to Bloomberg, was valued at $98 billion.

On a day when its closest rival Tata Consultancy Services achieved the distinction of becoming the first Indian IT company to cross $100 billion in market cap, top leaders of Infosys led by newly appointed Chief Executive Officer and Managing Director Salil Parekh were busy convincing investors in Mumbai how they are trying to build a company that has put in place all the building blocks to emerge as a leader in the digital space, where most of the client budgets are going today.

Market regulator Securities and Exchange Board of India (Sebi) is once again caught on the wrong foot, and this time for one of its recent circulars that made public names of over 2,000 entities, which have defaulted on its dues.

Some of the companies named in the list have raised objections with the finance ministry, stating that the list was erroneous, said sources aware of the development.

New Delhi: Senior bureaucrat Suresh Kumar on Monday assumed the additional charge as chairman and managing director (CMD) of state-owned Coal India Ltd.

Kumar, additional secretary with the coal ministry, has taken over from Central Coalfields Ltd CMD Gopal Singh, who was appointed as interim chairman of the world’s largest coal miner in September last year.

Volvo Cars has revealed its S90 Ambience Concept which comes with an industry-first sensory experience that synchronises visuals, sound and scent. The S90 Ambience Concept, making its public debut at the Beijing Auto Show in China, is based on Volvo’s top-of-the-line S90 Excellence three-seater executive saloon and focuses on chauffeured passengers in the rear seat.

China on Monday said the “protectionist” trade policy of the US and the “unprecedented” changes in the world order in the past 100 years will be discussed by Chinese President Xi Jinping and Indian Prime Minister Narendra Modi at their two-day summit this week. A day after the big announcement of Modi-Xi’s informal meet in China’s central city Wuhan on April 27-28, Beijing said the outcome of the meeting will be “positive”.

It's about to rain money on Google CEO Sundar Pichai this week. According to a Bloomberg report, Pichai on Wednesday would be cash in an award of 353,939 restricted shares, which he received before a promotion in 2014 will vest.

The Bloomberg data further showed that at the end of last week, the grant was worth about $380 million, making it one of the biggest single payouts to a public firm official lately.

Former governor of the Reserve Bank of India, Raghuram Rajan as been named as one of the contenders for the top job of the UK’s central bank. The leading Financial daily, Financial Times has named Raghuram Rajan as someone who might replace Mark Carney, he current governor of Bank of England.

With the Reserve Bank giving no relaxation to its February 12 framework on resolution of stressed assets, banks are likely to become more cautious and risk-averse to long-term funding, especially to the infrastructure sector, say lenders.

On February 12, the central bank had come out with revised framework for resolution of stressed assets.

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